Farther Finance Advisors LLC Grows Stock Position in Allegiant Travel Company (NASDAQ:ALGT)

Farther Finance Advisors LLC raised its stake in shares of Allegiant Travel Company (NASDAQ:ALGT) by 489.1% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 542 shares of the transportation company’s stock after buying an additional 450 shares during the period. Farther Finance Advisors LLC’s holdings in Allegiant Travel were worth $28,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Jones Financial Companies Lllp increased its stake in shares of Allegiant Travel by 94.5% in the 4th quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company’s stock valued at $43,000 after purchasing an additional 223 shares in the last quarter. Sterling Capital Management LLC increased its stake in shares of Allegiant Travel by 803.6% in the 4th quarter. Sterling Capital Management LLC now owns 497 shares of the transportation company’s stock valued at $47,000 after purchasing an additional 442 shares in the last quarter. Signaturefd LLC increased its stake in shares of Allegiant Travel by 30.3% in the 4th quarter. Signaturefd LLC now owns 594 shares of the transportation company’s stock valued at $56,000 after purchasing an additional 138 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Allegiant Travel in the 4th quarter valued at about $75,000. Finally, Russell Investments Group Ltd. increased its stake in shares of Allegiant Travel by 1,486.7% in the 4th quarter. Russell Investments Group Ltd. now owns 1,904 shares of the transportation company’s stock valued at $179,000 after purchasing an additional 1,784 shares in the last quarter. Hedge funds and other institutional investors own 85.81% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Barclays cut their price target on Allegiant Travel from $60.00 to $52.00 and set an “equal weight” rating for the company in a research note on Thursday, May 8th. Bank of America cut their price objective on Allegiant Travel from $95.00 to $50.00 and set an “underperform” rating for the company in a research note on Thursday, April 3rd. Raymond James Financial reissued a “strong-buy” rating and set a $80.00 target price (down previously from $90.00) on shares of Allegiant Travel in a report on Wednesday, May 7th. UBS Group raised their target price on Allegiant Travel from $45.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, May 13th. Finally, TD Cowen raised their target price on Allegiant Travel from $35.00 to $50.00 and gave the company a “hold” rating in a research report on Monday, May 12th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $63.70.

Allegiant Travel Trading Up 0.5%

Shares of Allegiant Travel stock opened at $54.28 on Thursday. The stock has a market cap of $990.61 million, a P/E ratio of -4.69, a P/E/G ratio of 0.31 and a beta of 1.74. The stock’s 50 day simple moving average is $52.25 and its 200-day simple moving average is $68.61. Allegiant Travel Company has a 1-year low of $36.09 and a 1-year high of $107.57. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.90 and a quick ratio of 0.87.

Allegiant Travel (NASDAQ:ALGT) last issued its earnings results on Tuesday, May 6th. The transportation company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.27. The business had revenue of $699.07 million for the quarter, compared to analysts’ expectations of $700.00 million. Allegiant Travel had a positive return on equity of 5.46% and a negative net margin of 8.11%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.57 EPS. Analysts predict that Allegiant Travel Company will post 7.7 EPS for the current fiscal year.

About Allegiant Travel

Allegiant Travel Company, a leisure travel company, provides travel services and products to residents of under-served cities in the United States. The company offers scheduled air transportation on limited-frequency, nonstop flights between under-served cities and leisure destinations. As of February 1, 2024, it operated a fleet of 126 Airbus A320 series aircraft.